BlackRock to Invest in iCapital® Network

Frank Porcelli Joins iCapital’s Board of Directors

December 15, 2016 01:00 PM Eastern Standard Time

NEW YORK--(BUSINESS WIRE)--iCapital
Network,a financial technology platform focused on
democratizing access to alternative investments for high-net-worth
investors and their financial advisors, today announced that BlackRock
(NYSE: BLK), a global leader in investment management, risk management,
and advisory services, will lead iCapital’s next funding round. Frank
Porcelli, Chairman of BlackRock’s US Wealth Advisory business, will join
iCapital’s Board of Directors and will work closely with the
organization as a strategic advisor.

Individual investors remain significantly under-allocated to alternative
investments relative to institutional investors, but are increasingly
exploring the critical role alternatives can play in state-of-the-art
portfolio construction. iCapital’s online platform facilitates access to
private investment opportunities through an independent origination and
due diligence process that prioritizes quality offerings from an array
of top managers, and provides an end-to-end technology solution
automating the unique subscription, administration and reporting
processes of alternative investments.

“We are building the largest independent digital alternative investments
platform in the industry. In BlackRock, we have an investor who
understands the importance of technology’s role in the wealth management
ecosystem,” said Lawrence Calcano, Chief Executive Officer of iCapital
Network. “BlackRock’s decision to lead our next round of funding
validates the steps we’ve taken thus far and gives us a springboard to
scale the platform for future growth.”

iCapital recently announced that it has surpassed $2 billion in
subscriptions from approximately 3,000 investors across more than 40
private offerings since the public launch of its platform two years ago.
Its member network has expanded to include more than 1,300 users from
RIA firms, private banks, independent broker-dealers, family offices and
other sophisticated advisory organizations that collectively oversee
more than $1.7 trillion in investable client assets.

iCapital Network is a financial technology platform that provides
modular alternative investment solutions for registered investment
advisors, broker-dealers, private banks, family offices and other
sophisticated investors. The state-of-the-art online portal offers a
curated selection of private equity funds and hedge funds, extensive due
diligence support, an automated subscription process and integration
with a wide range of custodial platforms and reporting packages. The
firm’s customizable technology and specialized suite of services is also
used by asset managers and financial institutions to streamline and
automate the offering and administration of private investments. For
additional information, please visit the Company’s website at www.icapitalnetwork.com
| LinkedIn: https://www.linkedin.com/company/icapital-network-inc
| Twitter: @icapitalnetwork

About BlackRock

BlackRock is a global leader in investment management, risk management
and advisory services for institutional and retail clients. At September
30, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients
around the world meet their goals and overcome challenges with a range
of products that include separate accounts, mutual funds, iShares®
(exchange-traded funds), and other pooled investment vehicles. BlackRock
also offers risk management, advisory and enterprise investment system
services to a broad base of institutional investors through BlackRock
Solutions®. As of September 30, 2016, the firm had approximately 13,000
employees in 30 countries and a major presence in global markets,
including North and South America, Europe, Asia, Australia and the
Middle East and Africa. For additional information, please visit the
Company’s website at www.blackrock.com |
Twitter: @blackrock_news | Blog: www.blackrockblog.com |
LinkedIn: www.linkedin.com/company/blackrock

Disclosures: This material is provided for informational purposes only
and is not intended as, and may not be relied on in any manner as legal,
tax or investment advice, a recommendation, or as an offer to sell, a
solicitation of an offer to purchase or a recommendation of any interest
in any fund or security offered by iCapital. Past performance is not
indicative of future results. Alternative investments are complex,
speculative investment vehicles and are not suitable for all investors.
An investment in an alternative investment entails a high degree of risk
and no assurance can be given that any alternative investment fund’s
investment objectives will be achieved or that investors will receive a
return of their capital. The information contained herein is subject to
change. Securities may be offered through iCapital Securities, LLC, a
registered broker dealer, member of FINRA and SIPC and subsidiary of
Institutional Capital Network, Inc. iCapital is a registered trademark
of Institutional Capital Network, Inc. All rights reserved.